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Help getting a meeting today at 3 about F&F
Hi all, I am hoping someone can give me some advice. I am waiting on a phone call today to offer a payment for a full and final. My husband was made redundant in may and has found it hard to secure permanent work, hes had a few temporary jobs but nothing permanent and its killing him and us a s we're worried where our IVA…
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IP/IVA Company fees?
Just wondering how IP/IVA firm fees are calculated and whether it is usually a fixed amount or a percentage of the reduced offer amount added on top? E.g. for example you owe £20,000 to various different creditors. IVA writes that down to £8000. Would an IP/IVA company's fee on top be for example £500, £1000, or a…
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Working Tax Credit
Hi all Okay DRO has been approved... my WTC overpayment was included in DRO. Does anyone know if I can apply for this benefit despite this? If I cannot get WTC - then to work without it will put me in a worse situation! Crazy but true!! Thank you.
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Do I Declare Maternity Payment After IVA Approved?
Hi guys As you might know, my creditors meeting is today. Our payments to the creditors was worked out on my pay and tax credits. We have three children with one on the way in March. Our income left for luxurys and kids clubs, holidays, christmas and birthdays is limited. Now this morning my wife received notice that she…
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Financial Life after IVA Completed over a year ago
Hi, My husband's IVA completed in October 2011 and our certificate was issued with no problems in December 2011. It has been over a year since we were discharged and I was wondering how long before we can start living a more freely? We have recently moved into a large house with adjoining annexe with his parents and as…
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Question about DRO for existing company director
Hi all, I left work and started a limited company back in April 2012. Since then though, a major client has stopped trading and the work isn't coming as fast as I'd hoped, although it IS getting steadily better. At this stage however my personal financial situation doesn't have such a rosy outlook, as I have been…
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Mortgage rates and IVA
Hi, I have been in my IVA for over a year with no problems. My mortgage deal expires in March and I am looking at options. My current mortgage lender have offered us to fix for 3yrs (4.29%) or 5 yrs (4.59%) or to go onto the standard variable mortgage. We are currently on a fixed 5.89% deal so any of these will be a saving…
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IVA: Minimum Creditor Dividend
We often hear of people entering into an IVA, worried that it may not be accepted due to the low dividend on offer. Well, you might take comfort learning of a recent success a private IVA provider had in getting an IVA accepted at the grand total of one half penny in the pound dividend. (Is that a record? Makes my 34p in…
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Can my wife apply for a DRO?
Hi All, Could someone please give me a bit of advice regarding DROs. I am currently in the process of saving the fee for bankruptcy for debts of approx £44k. Basically I was in an IVA when both myself and my wife were made redundant within 3 months of each other. It failed after TIX refused any variation after I returned…
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Creditor Meeting Tomorrow, scared!!!
Hi Guys So its my creditors meeting tomorrow with Grant Thornton, I am very nervous about it all, hope it goes my way. I would not have a clue what to do if they do not accept. Its taken a while to get to this stage, doing research and looking into debt management plans. Now I am already trying to budget and survive…
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Car Valuation for DRO
Hi all, Just wanted to see if anyone here has experience of this? It looks very much like my car will be valued at 1200-1500 and I'm just wondering if there is any leeway at all given for cars at this valuation when it comes to getting approved for the DRO or are they very strict on this?
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what is a fair final settlement offer
Hi My ex partner took a IVA on 3 years ago (4 yrs this comming july), he pays 2 thousand back per yr so has paid in excess of 6 thousand now if he were to do the full 6 years that would work out at 12 thousand in total. We were trying to get a idea of a full and final setlment figure to offer the IVA people to put forward…
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DRO intermediary
Hey does anyone know if you are automatically assigned an intermediary once you apply for a DRO or do you need to find your own?
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Issues with IVA, help needed
Hi, I was wondering if anyone could help me please.... I paid my IVA off at the end of June by F&F settlement. I was told at the time that it would take up to 3 months for my IVA to complete and for my completion certificate to be issued and sent out to me. It's now been 6 months and I still haven't had my completion…
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Step Change Debt Remedy Tool
I have used the Step Change Debt Remedy tool a few times and have been trying to accurately calculate my debts, income and expenditure, though it is more difficult for me than most people as a lot of these are variable. The few times I have used the tool and where my surplus wasn't too disimilar each of the times I used…
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What happens in an IVA if suddenly unemployed?
What would happen if you're in an IVA and you suddenly became unemployed? Does the IVA then fail and they make you bankrupt through the courts? Or, do they suspend the IVA until you are once again employed and can resume payments into the IVA?
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Dro & or
Hi, My wife and i are considering a DRO for her and we were wondering if the OR gets involved in the same way as he/she does in a bankruptcy case? ie. Phone/face to face interviews etc The reason for asking is that she is disabled and has a speech impediment so this kind of interview would be extremely stressful for her.…
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Just started an IVA
We have month 2 into our IVA but already we are finding it hard. On Paper our budget looks great but the reality is totally different. We started our IVA on December 1st 2012. Our budget allows us to put some money aside for clothes, car tax, insurance etc each month. EG: The car tax is due now, £118.50 and we have just…
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IVA and Mortgage help
My partner has an IVA with I believe, two years left to run. He also has a mortgage which he is up to date on but on a house which has dropped into negative equity and due to a decline in the area, is unlikely to improve, in fact, sales are currently 10-15k less than he owes at the minute. My question is, what is the best…
